BitMEX CEO Calls New Insider Trading Lawsuit 'Spurious and Opportunistic'
BitMEX CEO Peter Wilkinson has dismissed a new class action lawsuit alleging illegal trading practices and customer data misuse as baseless.Summary
BitMEX is facing a new class action lawsuit filed by BKX Services Inc. and David Namdar in the US District Court for the Southern District of New York. The plaintiffs allege that BitMEX co-founders operated a secret trading desk in 2018 that used private customer data to engineer liquidations. Additionally, the suit claims the exchange provided false explanations regarding a 25-minute platform outage in March 2020, during which $800 million in leveraged positions were force-closed.
The lawsuit seeks the return of Bitcoin (replevin) rather than cash damages, with total claimed losses exceeding 622 BTC. The proposed class includes U.S. users who engaged in Bitcoin swap products on the platform from July 23, 2018, onward. Defendants named in the suit include co-founders Arthur Hayes, Samuel Reed, Benjamin Delo, and Gregory Dwyer, as well as HDR Global Trading and other affiliated entities.
BitMEX CEO Peter Wilkinson has responded to the allegations by calling the lawsuit "spurious and opportunistic" and stating it has no basis in fact. He indicated that the company intends to vigorously defend itself, noting that they have successfully refuted similar claims in the past.
(Source：Benzinga)